AkzoNobel Taps Data for Forecast Accuracy
AkzoNobel, a global paints and coatings company and a major producer of specialty chemicals, purchases Terra Technology’s Multi-Enterprise Demand Sensing (MDS) to use point-of-sale data to reduce forecast error by an additional 25 percent. AkzoNobel is currently in the process of deploying Terra’s Demand Sensing and Multi-Enterprise Inventory Optimization in Europe, the Middle East and Africa. The addition of MDS is expected to closely connect AkzoNobel’s supply chain to the store shelf, allowing the company to make further gains in customer service and inventory reduction.
“By implementing Terra’s MDS, we can now use point-of-sale data to create value for AkzoNobel and our customers,” says Alain Crottaz, EMEA Planning director, AkzoNobel. “Using daily retailer data with demand sensing enables us to predict their orders. The ability to sense shifts in demand and quickly respond helps us meet our key goals of lowering stock while improving customer service.”
MDS aims to enhance Demand Sensing by making structured use of downstream data for every item in the supply chain to create accurate daily forecasts. The systematic use of this information is a new form of automated collaboration which lets manufacturers improve customer service and gain a competitive advantage without placing increased demands on retailers. The replenishment and inventory management efficiencies, which result from better demand visibility, free working capital and help capture new growth opportunities in volatile markets.
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“By implementing Terra’s MDS, we can now use point-of-sale data to create value for AkzoNobel and our customers,” says Alain Crottaz, EMEA Planning director, AkzoNobel. “Using daily retailer data with demand sensing enables us to predict their orders. The ability to sense shifts in demand and quickly respond helps us meet our key goals of lowering stock while improving customer service.”
MDS aims to enhance Demand Sensing by making structured use of downstream data for every item in the supply chain to create accurate daily forecasts. The systematic use of this information is a new form of automated collaboration which lets manufacturers improve customer service and gain a competitive advantage without placing increased demands on retailers. The replenishment and inventory management efficiencies, which result from better demand visibility, free working capital and help capture new growth opportunities in volatile markets.
Related Articles:
AkzoNobel to Become Primary Paint Supplier to Walmart
Mondelez Invests in Demand Sensing, Forecasting
P&G Implements Global Demand Sensing